Mcap of top-8 firms jump by Rs 4.13 lakh cr

The combined market valuation of eight of the top-10 most valued firms surged by Rs 4,13,003.23 crore last week, with HDFC Bank and ICICI Bank emerging as the biggest gainers, in tandem with an optimistic trend in equities. Last week, the BSE benchmark Sensex jumped 4,230.7 points or 5.77 per cent, and the NSE Nifty surged 1,337.5 points or 5.88 per cent.

“Sentiment remained buoyant amid optimism surrounding a temporary US-Iran ceasefire, although lingering geopolitical uncertainties capped the pace of gains as the week progressed,” Ajit Mishra, SVP, Research, Religare Broking Ltd, said.

A sharp decline in crude oil prices below the USD 100 mark eased domestic concerns and triggered a strong rebound across markets, he added. From the top-10 pack, HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, Tata Consultancy Services (TCS), Bajaj Finance, Larsen & Toubro and Hindustan Unilever were the winners, while Reliance Industries and Infosys faced erosion from their valuation.

HDFC Bank added Rs 91,282.67 crore, taking its market valuation to Rs 12,47,478.57 crore. The valuation of ICICI Bank jumped Rs 76,036.36 crore to Rs 9,46,741.85 crore, and that of Bajaj Finance surged by Rs 60,980.35 crore to Rs 5,75,206.47 crore.

The market capitalisation (mcap) of Larsen & Toubro zoomed by Rs 47,624.97 crore to Rs 5,44,736.59 crore, and that of Bharti Airtel climbed Rs 45,873.43 crore to Rs 10,66,293.69 crore. State Bank of India’s mcap soared Rs 43,614.67 crore to Rs 9,84,629.98 crore, and that of TCS edged higher by Rs 26,303.49 crore to Rs 9,13,331.92 crore.